Day: October 25, 2022

Bitcoin Volatility Shrinks To All-Time Lows

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The Bitcoin price is currently so stable that some experts are already jokingly comparing it to a stablecoin. However, from a historical perspective, this low volatility level carries a lot of risk. As Glassnode reports, BTC is trading in an incredibly small range of $869, separating the weekly low and high by just 4.6%. Glassnode looks at these bearish risks but also bullish opportunities in its new weekly report. Periods of extremely low volatility have been very rare in Bitcoin’s history. Ultimately, there has either been an extremely strong move…

Apple Bans Use of NFTs to Unlock Content and Features in App Store

Tech giant Apple recently released guideline updates that restrict user interaction with NFTs in its App Store. Apple (NASDAQ: AAPL) has blocked apps on its App Store from using non-fungible tokens (NFTs). According to reports, this move is to discourage NFT buyers and sellers from transacting their business in-app. Apple also wants these businesses to take their activities outside the company’s purview. By banning the use of NFTs on its App Store, Apple is also potentially exempting the digital assets from its App Store’s 30% fee. The guidelines published to the tech giant’s…

Ecosystem is bullish on the metaverse, no matter what the numbers imply

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An initial interpretation of DappRadar numbers on Oct. 11 reported extremely low engagement numbers for Decentraland, one of Web3’s most-hyped metaverses. The numbers shocked the community, as the platform has a current market evaluation of $1.2 billion. Shortly after the initial report broke, both DappRadar and Decentraland verified that the published number of less than 40 unique active wallets (UAW) was not an accurate representation of activity on the network. According to DappRadar’s tracker at the time of writing, UAW is just over 600. A DappRadar report following the incident revealed…

Cathie Wood Latest Update On Bitcoin And The Crypto Market

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Near Foundation sets up $40M fund to bail out USN investors in case of collapse

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Near Protocol’s in-house stablecoin, USN, recently became undercollateralized, forcing Near Foundation to recommend winding down USN to prevent a situation similar to the Terra (LUNA) and TerraUSD (UST) collapse. Supporting this move, the Near Foundation opened up a $40 million fund to protect investors and help them cash out of USN with equal amounts of wrapped Tether (USDT.e). On Oct. 24, Near Foundation revealed setting up a $40 million fund, allowing eligible USN holders to redeem their USN tokens on a 1:1 basis with USDT.e. The program was launched after…

Africa Focused Crypto Exchange Yellow Card Granted VASPs License in Botswana – Emerging Markets Bitcoin News

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Yellow Card, an Africa-focused cryptocurrency exchange platform, recently said it has received a virtual asset service provider (VASP) license to operate in Botswana. Granted by the country’s Non-Bank Financial Institutions Regulatory Authority, Yellow Card’s license allows the crypto exchange to bolster its operations on the continent. Working With Regulators The Africa-focused cryptocurrency exchange platform, Yellow Card, recently revealed it had received a virtual asset service provider (VASP) license to operate in Botswana. The licence, which was issued by Non-Bank Financial Institutions Regulatory Authority (NBFIRA), makes Yellow Card the first crypto…

ShareRing Rolls Out Skinny ID for Frictionless Blockchain-Based Digital Identity Solutions

ShareRing, a blockchain-based ecosystem providing digital identity solutions, has launched Skinny ID, aimed at offering a seamless and frictionless onboarding process.    Per the announcement: “Introducing Skinny ID, ShareRing’s simplified sign-up process that removes friction on the onboarding journey and allows users to explore the ShareRing ecosystem without having to provide any government IDs.” Being a user-focused blockchain platform, ShareRing enables the issuance, storage, verification, and sharing of personal information and key documents. The report noted: “Previously, ShareRing’s initial onboarding journey added friction to users who were…

Analyst puts Bitcoin price at $30K next month with breakout due

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Bitcoin (BTC) “will break out significantly” in the next month, with an upside target of $30,000. That was the latest prediction from Michaël van de Poppe, founder and CEO of trading firm Eight. Analyst on November price target: “My guess is probably $30K” In a tweet on Oct. 25, Van de Poppe joined a growing number of analysts delivering bullish BTC price forecasts. BTC/USD is currently marked by a distinct lack of volatility, but signs are flowing in that the sideways trend is due a major shake-up. Bitcoin’s Bollinger Bands…

Shiba Inu Burn Rate Has Just Spiked By An Impressive 1,860%

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Shiba Inu, a cryptocurrency that is a spin-off of dog-themed crypto Dogecoin, is counting on massive token burning rates to stop its decline. Over the last 24 hours, over 45 million SHIB Tokens were burned During the same time frame, Shiba Inu failed to increase its trading price Analysts think the asset might “die” by the end of 2023 But despite the destruction of around 410 trillion of its supply since its introduction to the crypto space, SHIB failed to make any kind of rally as it continues to paint…